Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
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Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, on Thursday outlined the details of the National Electric Vehicles Policy, recently approved by the UAE Cabinet.
The policy serves as a regulatory framework to guide efforts to align the standards for the infrastructure of electric vehicles charging stations as well as facilitate integration among stakeholders across the country. Developed by the Ministry of Energy and Infrastructure (MoEI), the policy is an outcome of the Global EV Market transformational project.
It supports the objectives of the National Energy and Water Demand Management Program that was launched to reduce energy consumption in intensive sectors, including transport.
The Minister said: "The policy will create a conducive environment for green mobility through regulating the local market and creating balanced economic, environmental, and social incentives that promote the use of electric vehicles and increase their sale. This will help the UAE achieve its objectives of reducing energy consumption by 40 per cent and carbon emissions by 10 million tonnes in the transport sector by 2050, as well as increase the share of electric vehicles to 50 percent of total vehicles on our roads by 2050."
He added: "The policy will accelerate the penetration of electric and hybrid vehicles, help establish a world-class electric vehicle infrastructure, and set legislative and technical frameworks for recycling electric vehicle batteries locally. This will encourage the business sector to invest in electric vehicle charging stations with the aim of advancing green mobility."
The National Electric Vehicles Policy aims to establish a network of electric vehicles charging stations in collaboration with partners from the federal and local government and the private sector, enhancing the UAE's competitiveness in related indices.
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